Users who had an active Facebook account in the last 15 years (between May 24, 2007 and December 22, 2022) Receive a portion of the contract fee $725 million as part of a class action lawsuit.
The deal comes as a result of a lawsuit by Meta over sharing the personal data of 87 million users with other companies such as Cambridge Analytica.
The case created a national and international uproar over data privacy issues. Even the company’s chairman, Mark Zuckerberg, had to testify before the US Congress in 2018.
Now the news about the payouts of the popular social network has created the curiosity of millions of users who wonder how much they can keep if they are eligible.
How much will each user receive?
The first thing to keep in mind is that if the court approves the deal at a hearing scheduled for September 7, 2023, Meta will set aside a total of $725 million.
The answer to how much money you can get depends on how many users have submitted valid claims and how long each account has been active on the social network. According to the case’s website.
Administrative expenses, attorneys’ fees and expenses will be deducted from the $725 million. The resulting amount is known as “Net Settlement Fund”. It is the amount of available money distributed among users.
Then, each user who submits a valid claim will be assigned one point for each month the claim is determined (between May 24, 2007 and December 22, 2022). Points from all claimants are added together and divided into a net settlement balance.
Each approved claimant will receive an allotted amount of points.
Step by step: How to get money
Claims must be filed by August 25. To do this, you need to visit Class Action Page And fill the online form.
There you will see a list of questions related to your Facebook account and you will need to enter your name, address and email.
Payment will be made after checking how many people are eligible to receive the settlement money. These can also be paid through debit cards, Paypal, Venmo, Zelle and direct deposits.
You may complete, print, and mail the form to: Settlement Administrator at: Facebook Consumer Privacy User Profile Litigation, c/o Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103.
A final hearing is scheduled for September 7, 2023, at which time the next steps in the process will be announced.
When will I receive my money and how will I receive it?
The court has scheduled a hearing on September 7, 2023 at 1 p.m. to decide whether to accept the settlement or take objections to it.
It is uncertain whether appeals will be filed against them and how long it will take to resolve them. But if the court approves the settlement later that day, the money will be distributed “as soon as possible,” the plaintiffs said.
When you fill the form, you have to choose the payment method through which the money should be delivered. This can be via check, direct deposit, PayPal, Venmo, and Zelle.
Who can apply?
Individuals eligible to participate in the class action claim must have been active users of Facebook between May 24, 2007 and December 22, 2022.
Even users who have only had their account for a limited period of time in that date range.
However, only users in the US can claim.